An analytical study of decentralized economic decision-making, with primary emphasis on markets and prices. The range and precision of the analytical techniques developed in Economics 1311 are expanded substantially; these techniques are applied to a variety of economic situations, issues and problems. Attention is given to the economic efficiency consequences of different market structures in both product and input markets, and of various kinds of government intervention in market processes. Prerequisite: ECON 1311
4 credits
Upper Division